Remember all those dire warnings? The ones about an impending stock market catastrophe, a looming ‘Great Depression’ all thanks to tariffs? Well, nearly a year has passed since CNN Business Executive Editor David Goldman tried to stoke those fires of doom back in April 2025, declaring, “We’re suddenly talking about the Great Depression when discussing Trump’s stock market.” He even snorted that “Trump’s stock market is throwing off some jaw-dropping statistics. How extraordinary? We’re now making comparisons to the Great Depression.”
Fast forward to February 2026, and what do we find? A rather inconvenient headline for CNN: “Stocks hit historic milestone as Dow crosses 50,000 points for first time ever.” Oof! Talk about a complete reversal of fortune – for the market, that is, not so much for the accuracy of predictions!
CNN markets reporter John Towfighi, in a moment of perhaps painful clarity for his network, summarized that “[t]he Dow’s ascent is emblematic of the stock market’s persistent rise despite recent tumultuous geopolitical events,” marking a bull market now in its fourth year. This makes Goldman’s previous pronouncement that “Trump has a long way to bounce back to avoid history” look utterly, hilariously off the mark. My goodness, talk about setting oneself up for total embarrassment!
It seems the ‘PANICANS’ were wrong, as this tweet perfectly captured:
SORRY, PANICANS: The Dow Jones Industrial Average just surpassed 50,000 for the first time in history 📈📈📈 pic.twitter.com/p8t4ltfj1B
— Rapid Response 47 (@RapidResponse47) February 6, 2026
Investors are reportedly crediting this phenomenal Dow boom to a “resilient economy and healthy corporate earnings,” according to The Wall Street Journal. That same “resilient economy” was, of course, supposed to have gone kaput by now, if you were diligently following the never-ending cacophony of lefty media spin from CNN proper, other outlets like MSNBC, or brain-rot media talking heads like Paul Krugman.
Adding to the good news, significant progress has been made on tariff negotiations. Just three days ago, a significant trade deal with India was announced, which “slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers,” as reported by Reuters. This deal is also expected to lead to higher “Indian purchases of U.S. energy, coal, technology and farm products,” marking the first phase of a broader pact.
And for all the bluster about a “Great Depression,” consumer sentiment has also hit an unexpected tailwind. The University of Michigan’s Survey of Consumers reported a six-month spike in consumer sentiment as of February 2026, which ABC News summarized as “defying economists’ expectations.”
Perhaps CNN may want to think about issuing a retraction on Goldman’s nonsense. But who are we kidding? We’ll probably just get another round of ‘sky is falling’ predictions as soon as the market hiccups. For now, let’s enjoy the 50,000 points and the sweet taste of vindication for those who chose optimism over panic.
Source: Original Article
